China will slap tariffs of up to 25% on a list of 128 US imports, the Financial Times reports, as retaliation to tariffs on steel and aluminium the White House signed into force last month.
The products to be subject to the tariffs include pork, nuts, and wine, as had been speculated when Beijing pledged to respond to the US tariffs with $3 billion worth of its own measures. A notable exception to the hit-list is key US import soybeans, suggesting a more measured reaction from the Chinese authorities.
The new tariffs, which will act in supplement to all existing duties, will be highest for US scrap aluminium and several pork products at 25%, according to an official statement released yesterday.
In the statement the Chinese government said the imposition of the tariffs will “safeguard China’s interests and balance the losses caused by the United States additional tariffs”.